Automatic Data Processing, Inc. (NASDAQ:ADP) is Marble Harbor Investment Counsel LLC’s 3rd Largest Position

Marble Harbor Investment Counsel LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 132,319 shares of the business services provider’s stock after selling 376 shares during the quarter. Automatic Data Processing accounts for approximately 4.3% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 3rd largest holding. Marble Harbor Investment Counsel LLC’s holdings in Automatic Data Processing were worth $38,734,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADP. Accredited Investors Inc. grew its stake in Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $342,942,000. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after buying an additional 1,087,814 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Automatic Data Processing in the third quarter worth $160,920,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.3 %

Shares of Automatic Data Processing stock opened at $306.45 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The business’s fifty day moving average price is $302.08 and its two-hundred day moving average price is $293.55. The company has a market capitalization of $124.87 billion, a P/E ratio of 31.96, a PEG ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ADP shares. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.18.

Insider Activity

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This represents a 14.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.